Number of requests to Azerbaijan Credit Bureau growing

In the first quarter of 2019, banks and non-bank credit organizations (NBCO) sent 567,525 requests to the Azerbaijan Credit Bureau (ACB), which is 40 percent more than in the same period last year, Trend reports with reference to the ACB.

For comparison, 405,544 requests were sent in January-March 2018. In the first three months of this year, 30 banks and 39 NBCOs used the bureau system.

Banks accounted for 89 percent (505,027) of all requests, while NBCOs accounted for 11 percent (62,498).

During this period, 5,511 individuals and legal entities inquired about their credit history. The overwhelming majority of them (99.2 percent or 5,466 people) are individuals.

During the first quarter of this year, one NBCO, one credit union and one leasing company connected to the ACB system. Thus, the number of organizations collaborating with the bureau has reached 123.

The ACB started operating since February last year.

Unlike the Centralized Credit Registry, the bureau contains more information and covers a greater number of borrowers. The process of new organizations' joining the bureau system continues.